As part of its new strategic direction, the FPA has announced a new brand strategy and five year advertising campaign, which it says is designed to promote the high standards of FPA professional members to consumers.
Using the opening plenary of the FPA National Conference to unveil the new marketing direction, FPA CEO Mark Rantall explained that the campaign will differentiate financial planners who are members of the FPA from other financial advisers.
“Our new brand will be highly professional, fresh and engaging. It will clearly herald a new era in the history of the FPA,” said Mr Rantall.
The first element to be implemented in the marketing strategy is a new logo. The new design has been approved by the FPA board and will be gradually phased in from March 2011 (click here to download the FPA Member Consultation Paper, which includes samples of the new logo in Appendix 3 on page 12).
Use of the logo, which is intended to represent a “trust mark for consumers”, will be restricted. Only local practices which meet the new set levels of FPA membership and CFP certification will be permitted to display the logo.
It will also feature on the Code of Professional Practice, which all members must adhere to. Mr Rantall announced at the Conference that a signed copy of the Code will be sent to all members of the FPA, to be displayed within their offices. According to Mr Rantall, displaying the code “… will announce to the world that you adhere to the highest professional standards.”
Mr Rantall also previewed some of the advertising concepts the FPA will roll out as part of its five year marketing campaign push. At the centre of the advertising concepts is the understanding that “all financial planners are not the same”. The campaign will be executed across a range of media, including print, TV and online.
The cost of the campaign is estimated at $2-3 million per annum over the next five years. Members will be asked to pay an advertising levee to partly cover these costs. In addition, the FPA will seek funding support from its Professional Partners and will also draw on existing fundinf reserves.
The FPA is currently seeking feedback from members on the new advertising concepts before arriving at a final set of messages to be used in the campaign.
